680.404 – Substituted performance.
680.404 Substituted performance.— (1) If, without fault of the lessee, the lessor, and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted. (2) If […]
680.405 – Excused performance.
680.405 Excused performance.—Subject to s. 680.404 on substituted performance, the following rules apply: (1) Delay in delivery or nondelivery in whole or in part by a lessor or a supplier who complies with subsections (2) and (3) is not a default under the lease contract if performance as agreed has been made impracticable by the occurrence of […]
680.406 – Procedure on excused performance.
680.406 Procedure on excused performance.— (1) If the lessee receives notification of a material or indefinite delay or an allocation justified under s. 680.405, the lessee may by written notification to the lessor as to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole […]
680.407 – Irrevocable promises: finance leases.
680.407 Irrevocable promises: finance leases.— (1) In the case of a finance lease that is not a consumer lease, the lessee’s promises under the lease contract become irrevocable and independent upon the lessee’s acceptance of the goods. (2) A promise that has become irrevocable and independent under subsection (1): (a) Is effective and enforceable between the parties, and by […]
680.501 – Default: procedure.
680.501 Default: procedure.— (1) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this chapter. (2) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this chapter and, except as limited by […]
680.502 – Notice after default.
680.502 Notice after default.—Except as otherwise provided in this chapter or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement. History.—s. 1, ch. 90-278.
680.503 – Modification or impairment of rights and remedies.
680.503 Modification or impairment of rights and remedies.— (1) Except as otherwise provided in this chapter, the lease agreement may include rights and remedies for default in addition to or in substitution for those provided in this chapter and may limit or alter the measure of damages recoverable under this chapter. (2) Resort to a remedy provided under […]
680.504 – Liquidation of damages.
680.504 Liquidation of damages.— (1) Damages payable by either party for default or any other act or omission, including indemnity for loss or diminution of anticipated tax benefits or loss or damage to lessor’s residual interest, may be liquidated in the lease agreement but only at an amount or by a formula that is reasonable in light […]
680.505 – Cancellation and termination; effect of cancellation, termination, rescission, or fraud on rights and remedies.
680.505 Cancellation and termination; effect of cancellation, termination, rescission, or fraud on rights and remedies.— (1) On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, and the canceling party also retains any remedy for default of the whole lease […]
680.506 – Statute of limitation.
680.506 Statute of limitation.— (1) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within the time prescribed in chapter 95. Notwithstanding the provisions of s. 95.03, in a lease contract that is not a consumer lease, by the original lease contract the parties may reduce the period of […]